Sysco Q3 Adj. EPS Tops Estimates, But Sales Miss; Appoints Kevin Hourican As Chairman

RTTNews | 384 days ago
Stocktwits
Sysco Q3 Adj. EPS Tops Estimates, But Sales Miss; Appoints Kevin Hourican As Chairman

(RTTNews) - Sysco Corp. (SYY) reported Tuesday net earnings for the third quarter of $424.69 million or $0.85 per share, compared to $429.60 million or $0.84 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.96 per share, compared to $0.90 per share in the year-ago quarter.

Sales for the quarter grew 2.7 percent to $19.38 billion from $18.88 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share on revenues of $19.74 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company is reaffirming its forecast for adjusted earnings in the range of $4.20 to $4.40 per share, and to return $2.25 billion to shareholders during fiscal year 2024. The Street is currently looking for earnings of $4.32 per share.

Separately, the company announced that the Board has appointed President and Chief Executive Officer Kevin Hourican to Chair of the Board of Directors to succeed Edward Shirley, who has stepped down due to personal health reasons.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: SYY
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Frozen Shakes Sold To Care Facilities Recalled After Listeria Outbreak, Death

Frozen Shakes Sold To Care Facilities Recalled After Listeria Outbreak, Death

Frozen supplemental shakes under Lyons ReadyCare and Sysco Imperial brands sold to hospitals and long-term care facilities have been recalled following a multistate outbreak of Listeria monocytogenes, including deaths. Sysco Corp., Lyons Magnus LLC, and their third-party manufacturer Prairie Farms Dairy, Inc. have called back 4 oz. Lyons ReadyCare and Sysco Imperial Frozen Supplemental Shakes.
RTTNews | 84 days ago
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Eurozone economic growth outlook was downgraded substantially for 2025 due to the impact of higher trade tariffs and elevated uncertainty and disinflation would proceed more swiftly than anticipated with headline inflation set to hit the 2 percent target by the middle of this year, the European Commission said Monday.
RTTNews | 8 minutes ago
Dollar Index Extends Gains On Trade Deal Optimism

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Rising optimism surrounding trade deals between the U.S. and its trading partners, and in particular the significant easing in trade tensions between the U.S. and China bolstered the U.S. dollar during the week ended May 16.
RTTNews | 1h 33min ago
FTSE 100 Drifts Lower In Cautious Trade

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U.K. stocks are down in negative territory, losing ground after making a good upmove in the previous week. Investors, awaiting the outcome of a UK - European Union summit in London, are largely making cautious moves.
RTTNews | 2h 9min ago
CAC 40 Moderately Lower; BNP Paribas Rises On Buyback Announcement

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French stocks are down in negative territory on Monday, retreating from a one-month high recorded in the previous session, as investors make cautious moves amid some concerns about global growth following a downward revision in U.S. credit rating.
RTTNews | 2h 52min ago
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